Apple has already said the focus of the conference will be on Leopard, the company’s forthcoming update to its Macintosh operating system. Jobs is likely to show off some hidden features in the software, analysts say. But anyone expecting the Apple CEO to show off an updated iPod, a revamped computer model or a completely new product line may leave disappointed, they say.

Leopard will be the fifth major revision to Apple’s OS X software since it debuted in 2001. The software update, expected in October, could prove important to Apple. Some of the new features in Leopard, include a backup program called Time Machine, advanced 3-D animation and the incorporation of Sun’s ZFS file system into OS X.

Leopard will take the integration of Windows and the Mac OS beyond Boot Camp, predicts Rob Enderle, principal analyst with the Enderle Group, a San Jose-based industry research firm.

With Boot Camp, you hold down the option key at startup to choose between Mac OS X and Windows. Third-party software solutions like Parallels 3.0 ($79), lets you switch between Windows and Mac OS without rebooting.

Analysts don’t expect Jobs to make any major product announcements. Leopard, will have one version and one price — $129.

“We have been trying to come up with a solution to expand the capabilities of the iPhone so developers can write great apps for it, but keep the iPhone secure,” he said. “… And we’ve come up with a very innovative new way to create applications for mobile devices… it’s all based on the fact that we have the full Safari engine in the iPhone. And so you can write amazing Web 2.0 and AJAX apps that look and behave exactly like apps on the iPhone, and these apps can integrate perfectly with iPhone services.”

Charles Ying thinks that Apple just reinvented the mobile applications platform. “This isn’t mobile Flash, mobile Java, or even the mobile Web. It’s the real Web, the real deal,” he writes. (True web should also mean 3G and not pokey EDGE connections that the device currently offers, one major Achilles heel of this device.) The ease, with which developers can develop and deploy apps on both web and the phones, will put pressure on other companies (and OS vendors) to play catch-up or lose developer attention.

iPhone is fully functional iPod, with full tracks of music. Do you need to download ring tones for $2.99 a pop, when you get a full song for a third of that price? Ditto for Wallpapers, and themes, and everything else that is being sold on the carrier deck.